Temporal secures $550 million funding at $12.55 billion valuation

AI startup Temporal has raised $550 million in a late-stage funding round, reaching a valuation of $12.55 billion. Led by Lightspeed Venture Partners with co-leads Wellington Management, Goldman Sachs Alternatives, and Tiger Global, the funding will support global expansion and platform R&D. Temporal, founded in 2019, provides software for application recovery and counts OpenAI, Snap, Nvidia, Netflix, and JPMorgan Chase among its clients. The company currently reports an annualized revenue run rate exceeding $250 million.